Why You Should Get an Accountant to Do Your VAT Returns
If you are operating as a limited company, you will have to register for VAT when you reach a £85,000 turnover. You will also be required to submit a VAT return quarterly.
The rules and regulations of VAT can vary depending on the products and services offered. With that in mind, doing your VAT yourself can be perplexing. This is why we recommend that you hire a VAT Accountant.
What Is a VAT Accountant?
A VAT Accountant is an experienced and registered accountant who specialises in accounting matters relating to VAT. They will know the rules to follow when filing your VAT Return, handling overpayments of VAT and much more.
More than just submitting your VAT Return, a good VAT Accountant will ensure that you do not make any mistakes or errors on your VAT Return.
The Benefits of Using a VAT Accountant
If you are unsure about the rules and regulations of VAT and would like an expert to tackle the process for you, then why not hire a VAT Accountant? Utilising a VAT Accountant will have many benefits for your business, including:
1. Access to a Trained Professional
Because VAT accountants are trained professionals when dealing with VAT, you will not have to worry about mistakes being made. They will be knowledgeable about what they are doing and because they are experts in this subject matter, they will only need minimal or even no supervision at all.
If you try to do your VAT yourself, you can make errors. And even if it was an honest mistake, the HMRC might not take to it too kindly and can easily fine you or even take legal action. You will also have to learn the ins and outs of VATs only to ensure that you are meeting the bare minimum when it comes to your filings and reports.
2. Accurate Details and Information
As a company owner, you will know how sensitive details and information are. You will know how easily it can be leaked and shared, which can lead to some serious consequences.
Instead of worrying about this, hire a VAT accountant who will give you the most accurate details and information when it comes to filing and submitting your VAT Return. They will ensure that the information you provide is accurate and based on factual data, which can be helpful during audits too.
3. Meet Filing Deadlines
Another good reason why you should hire a VAT accountant is that they will meet all filing deadlines. This can be especially useful when you are struggling to meet deadlines.
If you are on a tight schedule and deadline, you should opt for the services of a VAT accountant because it will free up your time and allow you to focus on other important tasks.
4. Cost-Efficient
Another good reason why you should hire a VAT accountant is that they will be cost-efficient. As we all know, business is about making the most out of your money. This is why it is good to hire a VAT accountant to assist with your VATs because it is cheaper than learning and doing it yourself. This can also be beneficial if you cannot afford to hire someone in-house to deal with this aspect of your business. They have many other services to offer other than just your VATs.
Conclusion
The concept of VAT can be complex and scary, especially for those with no experience. While we do encourage learning, the area of VAT will take a long time to fully master, and you cannot risk making a rookie error while doing so. This is why it is important you hire a VAT accountant to help you out.
1 to 1 Accountants offers accountancy services for small businesses and freelancers in the UK. Make sure that all of your filings and reports are correct by leaving the accounting work to the professionals. Hire our services so you can focus on your growing business as we help you with the accounting stuff.
